{"id":2866,"date":"2016-12-12T19:59:50","date_gmt":"2016-12-13T01:59:50","guid":{"rendered":"http:\/\/www.manufacturedhomepronews.com\/industryvoices\/?p=2866"},"modified":"2016-12-12T19:59:50","modified_gmt":"2016-12-13T01:59:50","slug":"paul-bradley-on-the-pending-fhfa-final-duty-to-serve-rule","status":"publish","type":"post","link":"https:\/\/www.manufacturedhomepronews.com\/industryvoices\/paul-bradley-on-the-pending-fhfa-final-duty-to-serve-rule\/","title":{"rendered":"Paul Bradley on the Pending FHFA Final Duty to Serve Rule"},"content":{"rendered":"

This and Leslie Gooch\u2019s article <\/a>both push for a chattel pilot in Land Lease Communities; ROC USA is right with them!<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span>Like Gooch, I see the fundamental issue coming down to what we can work out with the GSEs relative to, as she wrote, \u201creasonable standards for land leases in conjunction with such homes.<\/span><\/span><\/p>\n

We have Fannie Mae financing homes in some of our communities already, but it\u2019s too limited.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span>We want a chattel pilot and standard land lease so we can scale.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span>It should reassure skeptics that home-only loans by the GSEs have worked in Land Lease Communities.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span>We need DTS to get together as a larger market opportunity for the GSEs.<\/span><\/span><\/p>\n

I am surprised that the Community Bankers\u2019 Association (ICBA) would come out against GSE chattel product \u2013 from the many community bankers I\u2019ve talked to over the years, the local bankers want a secondary market for chattel.<\/span><\/span><\/p>\n

One of the concerns that lenders often express about manufactured home loans in Land Lease Communities is that homes there lose value.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span>But that is not a given.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span>I can point to examples in Land Lease Communities where homes are appreciating.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span><\/p>\n

\"ConcernLendersHaveManufacturedHomesLoansLoseValueExamplesHomesAppreciatingPaulBradleyROCUSA-IndustryVoicesManufacturedHousingIndustryVoicesMHProNews\"<\/p>\n

In fact, the two unique elements of this sector \u2013 relatively more expensive chattel products and land lease \u2013 can be resolved by the GSEs; they could make this market no different than the conventional residential markets where supply, demand, location and upkeep influence house price performance.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span>The GSEs, with the right lease terms to secure their and homeowners\u2019 interests, could help fix the problem that causes some manufactured homes to lose value. ##<\/span><\/span><\/p>\n

\"PaulBradleyROCUSA-postedMHProNews-com-75x91-\"
To see the interview, Another Cup of Coffee with Paul Bradley, click here<\/strong><\/a>.<\/em><\/figcaption><\/figure>\n

Paul Bradley
\nPresident
\nROC USA<\/a><\/span><\/span><\/p>\n

(Editor’s Note:<\/strong> The National Mortgage News\u00a0article<\/a> Paul Bradley is commenting on is linked as a download, here<\/strong><\/a>. For an interview with manufactured home owner – Kim Capen, who likewise points to appreciation of manufactured homes in his community –\u00a0click here<\/strong><\/a>.)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

This and Leslie Gooch\u2019s article both push for a chattel pilot in Land Lease Communities; ROC USA is right with them!\u00a0\u00a0Like Gooch, I see the …<\/p>\n

Paul Bradley on the Pending FHFA Final Duty to Serve Rule<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[2176,2175,2178,2286,2189,2230,2220],"tags":[132,2179,744,2396,428,2395,18,451],"yoast_head":"\nPaul Bradley on the Pending FHFA Final Duty to Serve Rule | Industry Voices<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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